Zion Market Research has published a new report titled “Zinc Oxide Pigments Market by End-Use Industries (Paint, Agricultural, Pharmaceutical, Electronic, Rubber, Chemical, and Ceramic & Glass); by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2024 ”. According to the report, global zinc oxide pigments market was valued at around USD 3,537.68 million in 2017 and is expected to reach approximately USD 5,525.41 million in 2024, growing at a CAGR of slightly above 5.6% between 2018 and 2024.
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Zinc oxide pigments are widely used in pharmaceutical, agricultural, electronic, rubber, chemical, ceramic & glass, and metallurgical industry. The zinc oxide pigment possesses properties such as anti-corrosion, anti-oxidants, etc.
The growing urbanization in developing economies and increasing in consumer preference for zinc oxide pigments are expected to accelerate the growth of zinc oxide pigments market globally. The growing demand for zinc oxide from the fertilizer and semiconductor industry is expected to propel the growth of zinc oxide pigment market globally. The consumption of zinc oxide in new applications such as transparent transistors, fungicides, solar cells, memory devices, and light emitting diodes is expected to enhance the consumption of zinc oxide market over the forecast period. Moreover, the growing investment in chemical, automotive, and construction industries are expected to generate immense opportunity for zinc oxide market in developing countries.
However, fluctuation in the raw material may affect the growth of zinc oxide pigments market over the forecast period.
The continuous advancement in chemical technology, growing demand for zinc oxide from various industries, and growing investment in R&D activities are expected to generate immense opportunities for zinc oxide pigments market in the future years.
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The zinc oxide pigments market can be segmented into its end user and by region. By end-user, the global zinc oxide pigments market is segmented into the paint, agricultural, pharmaceutical, electronic, rubber, chemical, and ceramic & glass. In 2017, the rubber industry accounted for the largest share in the global zinc oxide pigments market by value and volume. The growing consumption of rubber owing to the optical, physical, and chemical properties of zinc oxide pigments is expected to accelerate the growth of the segment globally.
Prominent players in the global zinc oxide pigments market include BASF SE, Hakusui Tech Company Ltd., Hindustan Zinc Ltd., Penoles Industries, New Boliden AB, Teck Cominco Ltd., Zinifex Ltd., Korea Zinc Company Ltd., Pan-Continental Chemical Co. Ltd., and Xstrata Plc., Among others.
The increasing competition among the zinc oxide pigment manufacturers owing to rising demand from end users is expected to drive the market growth in the coming future.
The report segments the global zinc oxide pigments market as follows:
Zinc Oxide Pigments Market: End-User Analysis
Ceramic & Glass Industry
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Zinc Oxide Pigments Market: Regional Segment Analysis
The Middle East and Africa